Category: Loan servicing

By: David A. Smith [Continued fro yesterday’s Part 1.] Yesterday’s post revealed the Wall Street Journal trying to discredit ‘extend and pretend’ as a loan modification strategy by using a counterexample – a case where extending the loan, because it had a maturity default and probably not a credit default. That’s ironic, because […]

By: David A. Smith “How does it feel to be 100?” “Beats the alternative.” – George Burns, on the occasion of his 100th birthday “Once you live to be a hundred, you’ve got it made. Very few people die after that age.” During our last major capital crunch twenty years ago, I […]

[Continued from yesterday’s Part 1.] Yesterday we saw that even with strong Administration and Congressional pressure for lenders to modify loans, and modest financial incentives to loan servicers achieving successful workouts (we’ll return to those below), as chronicled in this Wall Street Journal, many people – at least, the Journal had no trouble finding […]

With loan modifications on everyone’s lips, how easy is it to do? When you’re denied something, a chasm separates being told I won’t help you from I can’t help you. It ought to be easy, oughtn’t it? Hard-working people who suffer temporary setbacks deserve mercy from their lender. For the lender, mercy will […]